When it comes to being extremely strict with cryptocurrencies, the United States regulators seem to be standing right at the very top. Ever since the launch of the cryptocurrency industry, the regulators from the United States seem to be standing against the industry.
Over the course of time, many cryptocurrency firms have filed requests for approval for crypto funding projects. However, none of the firms have been granted that access or the approval to do so. Therefore, the floor at the Securities and Exchange Commission in the United States is fully littered with such rejections.
However, the stance of the United States SEC on the cryptocurrencies funds had been strict until the end of 2020, the recent developments made by the country’s neighbor may do some magic.
Just recently, it was Canada that announced the launch of two Bitcoin Exchange Traded Funds. The exchange-traded funds for Bitcoin (BTC) were approved by the Canadian regulators to be listed on the Toronto Stock Exchange (TSX).
With the amount of success and positive reception that the Bitcoin (BTC) ETF has received in Canada, there are now chances that the United States may also become a bit lenient towards the ETF.
In the light of the above developments, the cryptocurrency investors in the United States have now become hopeful. They are hoping that soon, the United States’ SEC will approve an exchange-traded fund to be launched in the country.
One of the major factors why the analysts are predicting that is because the U.S. Treasury Department has recently appointed a new chairman, Janet Yellen. Despite talking about the Money-Laundering and Terrorist Funding activities being on the rise in the cryptocurrency industry, Yellen has still shown a lot of interest in them.
As per her, the cryptocurrency is set to mark the future of the finance industry and is also playing a huge in the global economy at present. Then there is confidence from Canada that the United States is getting as the country observed two successful ETFs for Bitcoin (BTC).
In the last spot, there is the potential of Bitcoin (BTC) and its all-time high prices that it is observing since the beginning of the year 2021. Despite experiencing a couple of dips with respect to its price, the overall sentiment of the digital asset in the investment market is bullish.
The majority of the investors in the cryptocurrency sector consider Bitcoin (BTC) to be the best asset for holding and long-term investments. Even the majority of the companies in the United States have now started making huge investments in Bitcoin (BTC).
Recently, one of the major companies that trust the position of Bitcoin (BTC) and made a huge investment was Tesla. In the recent filing to the US SEC, Tesla had confirmed that it had invested $1.5 billion in order to acquire Bitcoin (BTC).